1. Daily Commodity Report
26th February 2013
Gold Silver Crude MCX GOLD (5 APRIL 13) –
25-Feb-13
Gold opened lower at 29579 but it managed to move higher. It
Expiry 05-Apr-13 05-Mar-13 19-Mar-13 touched an intra-day high of 29675. However, it failed to sustain
Open 29,579 53,750 5,065 higher and moved lower to touch an intra-day low of 29491. It
ended the day on a flat note to close at 29617.
High 29,675 54,190 5,104
The RSI and the Stochastic are placed above their respective
Low 29,491 53,512 5,026
averages. Moreover, both oscillators are also placed around the
Close 29,617 53,972 5,051 over sold zone. These positive conditions would lead to
intermediate bouts of short covering and buying support. Though
Prev. Close 29,605 53,702 5,074
the –DI line and ADX line are placed above the +DI line and are
% Change 0.04% 0.50% -0.45% also placed above the 38 level but these have come off their recent
Source – MCX highs, indicating sellers are covering shorts regularly. MCX Gold
faces resistance at 30000, 30150, 30475, and 30916 while the
Volume (In 000's) support levels are placed at 29500, 29142 and 28765.
25-Feb-13 23-Feb-13 % Chg. MCX SILVER (5 MARCH 13) –
Silver opened higher at 53750 but moved lower to touch an intra-
Gold (gms) 29,359.0 2,141.0 1271.28% day low of 53512. However, it managed to bounce back from lows
Silver (kgs) 1,982.9 86.4 2194.17% for the day. It moved higher to touch an intra-day high of 54190. It
ended the day with moderate gains to close at 53972.
Crude (bbl) 21,311.2 365.0 5738.68%
The RSI has moved above its average. Moreover, the Stochastic is
Source – MCX
already above its average. The Stochastic and RSI are still placed
in the over sold zone. These positive conditions would lead to
Turnover (In Lacs)
intermediate bouts of short covering and buying support at lower
25-Feb-13 23-Feb-13 % Chg. levels. Though the –DI line and ADX line are placed above the +DI
line and are also placed above the 36 level but these have come
Gold 868,540.6 63,347.5 1271.07% off their recent highs, indicating sellers are covering shorts
Silver 1,067,520.6 46,397.2 2200.83% regularly. MCX Silver faces resistance at 55952, 56372, and
56613 while the supports are placed at 53621, 52622 and 51660
Crude 1,078,411.8 18,518.9 5723.31% levels.
Source – MCX
MCX CRUDE (19 MARCH 13) –
Global Market (Nymex - $) Crude opened lower at 5065 but moved higher to touch an intra-
day high of 5104. However, it ailed to sustain higher and moved
26/02/2013 25/02/2013 % Chg. lower to touch an intra-day low of 5026. It ended the day with
modest losses to close the day at 5051.
Gold (oz) 1,596.30 1,586.60 0.61%
Silver (oz) 29.08 29.05 0.10% The RSI and the Stochastic are placed below their respective
averages, which would lead to intermediate bouts of selling
WTI Crude (bbl) 92.58 93.11 -0.57%
pressure. However, the Stochastic and RSI are also placed in the
Brent Crude (bbl) 113.92 114.44 -0.45% over sold zone, which would lead to short covering at lower levels.
Dollar Index 81.78 81.89 -0.13%
Though the –DI line and ADX line are placed above the +DI line.
The –DI line is placed above the 37 level, indicating sellers are
Source – www.cmegroup.com gaining strength. MCX Crude faces resistance at 5085, 5122,
5157 and 5250, while the supports are placed at 5065, 4989 and
4834.
Sanjay Bhatia (AVP – Technical Research)
Email sanjay@keynotecapitals.net Yahoo Id: keytechnicals@yahoo.in
NOTE – Stop Losses should be considered strictly on Closing
Basis
Keynote Capitals Ltd.
The Ruby, 9th Floor, Senapati Bapat Marg, Dadar (W), Mumbai – 400 028. Tel: 3026 6000. Fax: 3026 6088.
www.keynotecapitals.com
2. Commodity News:
Indian tea rises on good demand; poor quality leaf supplies weigh
Tea prices in India, the world's second-biggest producer, rose at last week's auction on an improvement in demand
from local buyers, though supplies of poor grade leaf capped the price rise in dust grade variety.
Wheat, maize rises on scattered buying
Wheat and maize prices rose upto Rs 20 per quintal at the wholesale grains market today on scattered buying by flour
mills and stockists.
Brent oil trades near four-day high before Iran nuclear talks
Brent crude traded near the highest level in four days on Monday before international talks with Iran on its nuclear
program. China increased fuel prices for the first time since September. Futures rose as much as 1.6% after gaining
0.5% on February 22.
Source: ET
Economic Calendar:
Countries / Tuesday Wednesday Thursday
Regions 26/13 27/13 28/13
Gross Domestic Product
India
Quarterly (YoY) (Q4)
Infrastructure Output (YoY)
(Jan)e
Federal Fiscal
Deficit, INR (Jan)
Gross Domestic Product
US Consumer Confidence (Feb) Durable Goods Orders (Jan)
Annualized (Q4)
Core Personal
New Home Sales (MoM)
Fed's Bernanke testifies Consumption Expenditures
(Jan)
(QoQ) (Q4)
Housing Price Index (MoM) Initial Jobless Claims (Feb
(Dec) 24)
Japan Retail Trade (YoY) UK Gross Domestic Product Japan Capital Spending
Global
(Jan) (YoY) (Q4) (Q4)
Germany Retail Sales (YoY) Japan ndustrial Production UK Gfk Consumer
(Jan) (YoY) (Jan)Preliminar Confidence (Feb)
European Monetary Union
Consumer Confidence (Feb)
Keynote Capitals Ltd.
The Ruby, 9th Floor, Senapati Bapat Marg, Dadar (W), Mumbai – 400 028. Tel: 3026 6000. Fax: 3026 6088.
www.keynotecapitals.com
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